Steel price in pakistan, today June 04 2024. Steel is a crucial component in Pakistan’s construction and manufacturing sectors, making the dynamics of steel prices a significant economic indicator. In recent years, the steel industry in Pakistan has experienced various fluctuations influenced by global market trends, domestic demand, and policy changes. This article aims to provide an overview of the current steel prices in Pakistan, the factors influencing these prices, and the future outlook for the industry.
Current Steel Prices in Pakistan today
| Steel Iron RodSize in Sutar/mm | 40 Grade Rate in KG | 40 Grade Rate in Metric Ton | 60 Grade Rate in KG | 40 Grade Rate in Metric Ton |
| 3 sutar / 10mm | RS. 255 Per KG | RS. 255,000 Per Metric Ton | RS. 257 Per KG | RS. 257,000 Per Metric Ton |
| 4 sutar / 12mm | RS. 253 Per KG | RS. 253,000 Per Metric Ton | RS. 255 Per KG | RS. 255,000 Per Metric Ton |
| 5 sutar / 16mm | RS. 253 Per KG | RS. 253,000 Per Metric Ton | RS. 255 Per KG | RS. 255,000 Per Metric Ton |
| 6 sutar / 20mm | RS. 253 Per KG | RS. 253,000 Per Metric Ton | RS. 255 Per KG | RS. 255,000 Per Metric Ton |
| 7 sutar / 22mm | RS. 253 P8er KG | RS. 253,000 Per Metric Ton | RS. 255 Per KG | RS. 255,000 Per Metric Ton |
| 8 sutar / 25mm | RS. 253 Per KG | RS. 253,000 Per Metric Ton | RS. 256 Per KG | RS. 256,000 Per Metric Ton |
Branded Steel Price Today
| Brand Name | 40 Grade Rate in KG | 40 Grade Rate in Metric Ton | 60 Grade Rate in KG | 60 Grade Rate in Metric Ton |
| Amreli Steels | RS. 259 Per KG | RS. 259,000 Per Metric Ton | RS. 261 PerKG | RS. 261,000 Per Metric Ton |
| Mughal Steel | RS. 257 Per KG | RS. 257,000 Per Metric Ton | RS. 259 Per KG | RS. 259,000 Per Metric Ton |
| Agha Steel | RS. 255 Per KG | RS. 255,000 Per Metric Ton | RS. 257 Per KG | RS. 257,000 Per Metric Ton |
| AF Steel | RS. 253 Per KG | RS. 253,000 Per Metric Ton | RS. 255 Per KG | RS. 255,000 Per Metric Ton |
| Moiz Steel | RS. 255 Per KG | RS. 255,000 Per Metric Ton | RS. 257 Per KG | RS. 257,000 Per Metric Ton |
| Union Steel | RS. 255 Per KG | RS. 255,000 Per Metric Ton | RS. 257 Per KG | RS. 257,000 Per Metric Ton |
| Naveena Steel | RS. 254 Per KG | RS. 254,000 Per Metric Ton | RS. 256 Per KG | RS. 256,000 Per Metric Ton |
Local Steel Price in Pakistan
| City Wise Local Steel | Rate per KG | Rate per Metric Ton |
| Karachi | RS. 236 Per KG | RS. 236,000 Per Metric Ton |
| Lahore | RS. 234 Per KG | RS. 232,000 Per Metric Ton |
| Islamabad | RS. 234 Per KG | RS. 234,000 Per Metric Ton |
| Faisalabad | RS. 231 Per KG | RS. 231,000 Per Metric Ton |
| Peshawar | RS. 229 Per KG | RS. 229,000 Per Metric Ton |
| Gujranwala | RS. 230 Per KG | RS. 230,000 Per Metric Ton |
| Quetta | RS. 236 Per KG | RS. 236,000 Per Metric Ton |
| Multan | RS. 229 Per KG | RS. 229,000 Per Metric Ton |
As of mid-2024, the price of steel in Pakistan has shown a mixed trend, reflecting both global and local market conditions. On average, the price of steel rebar, a commonly used product in construction, ranges between PKR 250,000 to PKR 250,000 per ton. Other steel products such as hot-rolled coils (HRC) and cold-rolled coils (CRC) have their prices hovering around PKR 253,000 to PKR 253,000 per ton.
These prices can vary depending on several factors, including the quality of the steel, the region within Pakistan, and the purchasing volume. For instance, larger construction projects often negotiate lower prices due to bulk purchasing.
Factors Influencing Steel Prices
- Global Market Trends:
- Raw Material Costs: The cost of raw materials like iron ore and coal significantly impacts steel prices. Any fluctuation in global prices of these materials directly affects local steel prices.
- Supply Chain Disruptions: Global supply chain issues, such as those caused by the COVID-19 pandemic or geopolitical tensions, can lead to shortages and increased prices.
- Domestic Demand and Supply:
- Construction Boom: Pakistan’s construction sector has seen substantial growth, driven by urbanization and government infrastructure projects. This increased demand for steel has contributed to higher prices.
- Manufacturing Sector: The manufacturing sector also demands a significant portion of the steel produced, particularly in automotive and appliances industries.
- Government Policies:
- Tariffs and Taxes: Import tariffs on steel and related raw materials can affect prices. The government’s policies on these tariffs are crucial in determining the cost structure of steel.
- Subsidies and Support: Any government subsidies to local steel manufacturers can help stabilize or reduce prices.
- Exchange Rates:
- The value of the Pakistani rupee against the US dollar influences the cost of imported raw materials. A weaker rupee generally means higher costs for imported components, thus raising steel prices.
Future Outlook
The future outlook for steel prices in Pakistan remains cautiously optimistic. Several factors will play a role in determining the trend:
- Economic Growth: Continued economic growth and infrastructure development under projects like the China-Pakistan Economic Corridor (CPEC) will drive demand for steel.
- Investment in Technology: Modernizing the steel production process through technology investments can reduce costs and improve efficiency, potentially stabilizing prices.
- Global Market Conditions: The global economic climate, including recovery from the pandemic and geopolitical stability, will influence raw material costs and supply chains.
- Environmental Regulations: Stricter environmental regulations may lead to higher production costs, which could be passed on to consumers.
Conclusion
Steel prices in Pakistan are influenced by a complex interplay of global and local factors. Understanding these dynamics is essential for stakeholders in the construction and manufacturing sectors. While the current prices reflect a balance of these influences, the future holds potential for both challenges and opportunities. By staying informed about market trends and policy changes, businesses can better navigate the fluctuating landscape of steel prices in Pakistan.
